24M Selected as a 2016 Technology Pioneer by World Economic Forum

June 27, 2016 09:00 AM Eastern Daylight Time

CAMBRIDGE, Mass. & TIANJIN, People’s Republic of China--(EON: Enhanced Online News)--The World
Economic Forum today announced that 24M has been named a 2016
Technology Pioneer, a prestigious award honoring the world’s most
innovative companies. 24M was selected for its breakthrough semisolid
lithium-Ion technology, an innovation in lithium-ion battery design and
manufacturing that produces a better battery at a lower cost.

“Lithium-ion is the preferred chemistry for energy storage, but costs
need to come down further to accelerate the transformation of our energy
economy”

A sustainable, clean and thriving future for the planet requires a
critical enabler – affordable energy storage. The novel semisolid
lithium-ion technology from 24M is the first significant advancement in
lithium-ion battery design in more than 20 years and will slash today’s
lithium-ion costs by 50%, accelerating the global adoption of energy
storage.

“Lithium-ion is the preferred chemistry for energy storage, but costs
need to come down further to accelerate the transformation of our energy
economy,” said Dr. Yet-Ming Chiang, Chief Scientist and Co-founder of
24M. “By simplifying the way batteries are designed, 24M makes it
possible to produce low-cost batteries in a more modular, distributed
fashion that is more responsive to supply and demand. Recognition by the
World Economic Forum is significant validation of the 24M market
opportunity and our progress to date.”

24M and the 2016 Technology Pioneers are being recognized at the World
Economic Forum’s Annual Meeting of the New Champions being held this
week in Tianjin, People’s Republic of China. Throop Wilder, President
and CEO of 24M is participating in the event and facilitating several
discussions about how energy storage addresses a number of different
global challenges and opportunities.

“We welcome 24M to this group of extraordinary pioneers,” said Fulvia
Montresor, Head of Technology Pioneers at the World Economic Forum. “24M
is among those companies that help shape the Fourth Industrial
Revolution, a technological revolution that will fundamentally alter the
way we live, work and relate to one another. Through the platform of the
World Economic Forum, 24M will be able to scale and share its technology
and achieve a larger impact.”

24M was chosen as one of the 30 Technology Pioneers by a selection
committee of 68 academics, entrepreneurs, venture capitalists and
corporate executives from among hundreds of candidates. The committee
based its decisions on criteria including innovation, potential impact,
working prototype, viability and leadership. All information on this
year’s Technology Pioneers can be found here: http://wef.ch/techpioneers.

ABOUT 24M

24M answers the world’s need for affordable energy storage by enabling a
new, more cost-effective solution–semisolid lithium-ion technology. By
re-inventing the design of the battery cell as well as the manufacturing
method, 24M solves the critical, decades-old challenge associated with
the world’s preferred energy storage chemistry: reducing its high cost
while bettering its performance. Founded and led by some of the battery
industry’s foremost inventors, scientists and entrepreneurs, 24M is
headquartered in Cambridge, Mass. For more information, please visit www.24-m.com.

About the World Economic Forum: The World Economic Forum,
committed to improving the state of the world, is the International
Organization for Public-Private Cooperation. The Forum engages the
foremost political, business and other leaders of society to shape
global, regional and industry agendas. (www.weforum.org).